Bunge Global (NYSE:BG) Price Target Lowered to $74.00 at Morgan Stanley

Bunge Global (NYSE:BG) had its target price lowered by Morgan Stanley from $90.00 to $74.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has an equal weight rating on the basic materials company’s stock.

Several other equities analysts have also weighed in on BG. Stephens cut their target price on shares of Bunge Global from $110.00 to $105.00 in a report on Monday, February 3rd. Bank of America cut their price objective on shares of Bunge Global from $105.00 to $87.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Barclays lowered their target price on shares of Bunge Global from $95.00 to $85.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 6th. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $98.50.

Bunge Global Price Performance

NYSE:BG opened at $70.02 on Tuesday. The firm’s fifty day moving average is $78.57 and its two-hundred day moving average is $88.94. The firm has a market cap of $9.78 billion, a price-to-earnings ratio of 8.67 and a beta of 0.69. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.10 and a current ratio of 2.15. Bunge Global has a one year low of $67.40 and a one year high of $114.92.

Bunge Global (NYSE:BG) last issued its earnings results on Wednesday, February 5th. The basic materials company reported $2.13 EPS for the quarter, missing analysts’ consensus estimates of $2.30 by ($0.17). Bunge Global had a return on equity of 11.73% and a net margin of 2.14%. Research analysts expect that Bunge Global will post 7.75 EPS for the current year.

Hedge Funds Weigh In On Bunge Global

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Spire Wealth Management purchased a new stake in shares of Bunge Global during the fourth quarter worth about $26,000. Wilmington Savings Fund Society FSB acquired a new stake in Bunge Global in the 3rd quarter worth about $34,000. Farther Finance Advisors LLC increased its stake in Bunge Global by 40.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 433 shares of the basic materials company’s stock worth $42,000 after buying an additional 124 shares in the last quarter. Crews Bank & Trust purchased a new position in shares of Bunge Global in the fourth quarter valued at approximately $39,000. Finally, R Squared Ltd acquired a new stake in shares of Bunge Global in the fourth quarter worth approximately $45,000. 86.23% of the stock is owned by hedge funds and other institutional investors.

About Bunge Global

Bunge Global SA operates as an agribusiness and food company worldwide. It operates through four segments: Agribusiness, Refined and Specialty Oils, Milling, and Sugar and Bioenergy. The Agribusiness segment purchases, stores, transports, processes, and sells agricultural commodities and commodity products, including oilseeds primarily soybeans, rapeseed, canola, and sunflower seeds, as well as grains comprising wheat and corn; and processes oilseeds into vegetable oils and protein meals.